wagesSpain’s government is to agree on a 22% increase in the national minimum wage next week in an attempt to relieve tensions between Madrid and Barcelona.

A cabinet meeting will be held in Barcelona on December 21 by prime minister Pedro Sanchez in order to approve the measure, which would then be implemented in January.

Although Spain adjusts the minimum wage every year, this 22% rise is the greatest in more than 40 years and would mark an increase from €736 to €900 for low-paid workers.

"A rich country can't afford to have poor workers," Sanchez told the Spanish parliament in a debate on Wednesday.

This move follows French President Emmanuel Macron’s announcement of a €100 increase for minimum wage earners, motivated by huge protests over a rise to fuel tax taking place around France.

Aljazeera reports that the Spanish wage rise forms part of an agreement by the ruling Socialists to pass the country’s 2019 budget with the backing of anti-austerity party Podemos.

Sanchez, 48, took over his predecessor in June after an unexpected parliamentary vote of no-confidence. However, his Socialists dominate just 84 seats in the 350-seat parliament and must also depend on Podemos and the Catalan separatist parties in order for the implementation of new and significant measures, which includes the budget.

 

News you might like

Politics

Brexit – The End of an Era

While Boris Johnson carves a shiny new path for the UK amid the post Brexit talks - with sledgehammer in hand, he’s wasting no time demolishing the old one.

Markets

Spain tops travel rankings

The World Economic Forum’s Travel and Tourism ranking revealed that Spain is the world’s most travel-ready nation, followed by France, Germany, Japan and the United States.

Markets

Education savings plans

Education costs across the globe have been on the rise for years, and this trend is not set to shift anytime soon.

Markets

Amazon to create 600 new permanent jobs in Spain this year

Amazon has announced plans to boost its Spanish base with 600 new workers in 2019, climbing to 5,400 permanent employees by the end of the year, Kagay-an reports.

Politics

Spain to implement tax on tech giants

Spain’s acting economy minister revealed that Madrid will proceed with plans to implement a tax on large internet and technology firms, TechXplore reports.

Pensions

Retiring in Spain

Many UK citizens reaching pensionable age are considering Spain as a retirement haven.

Business

Spain’s Naturgy reports 7% increase in earnings

Spanish gas company Naturgy saw its core earnings increase by 7% in the first half of the year, Reuters reports.

Markets

Number of tourists in Spain increasing greatly

Industry Minister Reyes Maroto revealed that the number of foreign visitors in Spain is forecast to be record-breaking this summer,

Markets

Spain launches 5G network

Spain has become one of the first European countries to introduce a 5G network, with Vodafone Spain and Chinese telecom giant Huawei collaborating to bring the service in 15 Spanish cities.

Politics

Spain and Qatar ties strengthen

Belen Alfaro, Ambassador of Spain to Qatar, revealed that bilateral relations between the two countries have grown significantly, with the two-way trade exchange totalling to more than QR5.09bn ($1.4bn) in 2018

Markets

Spain leads Eurozone GDP growth

Data from Eurostat revealed that in the first quarter of 2019, the Eurozone’s economy expanded more than what was forecast.

Business

Valencia tops city rankings on Small Business Index

Spain has topped the rankings on SumUp’s Small Business Index, with Valencia, Madrid and Barcelona placing first, second and fifth respectively.

Markets

Spain’s economic growth defies eurozone trend

The beginning of 2019 saw Spain’s economy grow at a similar pace to that at the end of 2018, with a stronger-than-expected domestic demand counterbalancing a slowdown in exports.

Markets

Spain named healthiest country

Spain has been ranked as the healthiest country by the 2019 edition of the Bloomberg Healthiest Country Index.

Politics

Spain aims at putting an end to all nuclear plants by 2035

On Tuesday, Energy Minister Teresa Ribera has revealed Spain’s plans to close all seven of its nuclear plants between 2025 and 2035.

Markets

Spain’s unemployment at its lowest in 10 years

Spain’s unemployment rate has fallen in the fourth quarter, dropping to its lowest level in ten years as an increase in agriculture and construction jobs counteracted the tourist industry’s off-season, according to official statistics released Tuesday.

Markets

Spain’s luxury market expected to grow

Spain has forecast a growth in its luxury market, despite current sales lagging behind its European counterparts.

Markets

Spain to significantly increase minimum wage

Spain’s government is to agree on a 22% increase in the national minimum wage next week in an attempt to relieve tensions between Madrid and Barcelona.

Markets

UK and Spain reach agreement over Gibraltar

Spain has reached an agreement with the EU and UK over the status of Gibraltar once Brexit takes place, with Theresa May giving in to Madrid’s demands.

Markets

When the revolution eats itself

The referendum has emboldened the ideologues in British politics, a risk for both the economy and the markets

Markets

It's time to reconsider retirement

If you are like most people, you have not saved enough for retirement.

Markets

5 dishes you must try in Spain

If Spanish food could be described in three adjectives, one would say it is fun, flavoursome and favoured internationally.

Markets

Number of foreign buyers in Spain increases

Prime property sales in Spain have increased by 27% year on year across all regions in the first half of 2018.

Markets

Spanish vigilante preserving culture one tile at a time

How a substantial part of Barcelona’s heritage is kept alive through one man’s unique tile collection.

Markets

5 picturesque beaches in Spain

Spain’s warm climate and diversity of coastlines attract those seeking for a calm, laid-back lifestyle.

Markets

10 things to do in Spain

Spain is bursting with art and cultural sights, offering a diverse range of activities to those eager to explore the country.

Markets

Reasons to move to Spain

Seeking a slow-paced life lived under the sun, strolling along stunning Mediterranean beaches on a regular basis? Spain boasts all of this along with several other factors which could convince you to move to the country.

Markets

Top three cities to retire in Spain

Top three cities to retire in Spain

Markets

Foreign investors switched on to Spanish property

Data from the Spanish Land Registrars Association shows that foreign investors are rushing back to the Spanish property market in considerable numbers. Similarly to other European economies, the Spanish property market has struggled since the 2008 financial crisis which sunk the worldwide economy into a recession and nearly prompted a depression.

Markets

Spain has world's highest number of Blue Flag beaches

Spain has world's highest number of Blue flag beaches